Form 5498
What is Form 5498?
Form 5498 is the IRS information return that custodians file annually to report IRA contributions, rollovers, conversions, and the fair-market value of the account on December 31. The custodian sends a copy to you and to the IRS by May 31 each year. For Gold IRAs, Form 5498 reports the appraised fair-market value of the physical metals at year-end, which determines the next year's RMD calculation for owners 73 or older.
Why does form 5498 matter for Gold IRA investors?
Form 5498 is the official record of your Gold IRA value with the IRS. The fair-market value reported drives RMD calculations, contribution limits, and audit trails. If the form does not arrive by May 31, contact the custodian immediately — missing documentation creates compliance risk during tax filing or future audits.